Investment firm Kerrisdale Capital has argued in a new research report that MicroStrategy's shares have become overvalued.
In a disclaimer, Kerrisdale Capital said it holds short positions in MicroStrategy stock and will "realize gains" if the company's shares drop in price. Earlier this week, MicroStrategy's shares achieved a new all-time high Tuesday after surpassing $1,900, according to Yahoo Finance. Bitcoin price action. Image: The Block Price Page.
Meanwhile, MicroStrategy has continued to pursue its strategy of stockpiling bitcoin. The company recently announced it held approximately 214,250 bitcoin, about 1% of cryptocurrency’s total supply.
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